Briefly explain the difference between the concepts of scarcity and shortage.
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Q86: The tasks performed by the chef at
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Q88: "Wants" as an economic concept includes
A) both
Q89: Wants
A) is another term for needs.
B) refer
Q90: To an economist, the term "needs"
A) refers
Q92: Economic bads are items
A) for which the
Q93: Why is it that all of our
Q94: The term "labor" for an economist includes
A)
Q95: All of the following are resources EXCEPT
A)
Q96: Human beings
A) have unlimited wants.
B) think they
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